EDMONTON– Canadian Western Bank states traders have truly extraordinarily enacted favour of a sale of the enterprise to National Bank of Canada.
Edmonton- based mostly CWB states the poll on the distinctive convention Tuesday was 99.78 p.c in favour of the all-share supply.
The 2 monetary establishments launched the proposition in June that will surely see Montreal- based mostly National Bank take management of mid-sized CWB at an roughly $5 billion appraisal.
The supply stood for a larger than 100% prices to the place CWB was buying and selling previous to the supply was launched.
The requisition will surely see National Bank improve much more westward because it tackles CWB’s Alberta and B.C.-focused procedures.
The proposition nonetheless wants regulative authorization, but if protected the supply is anticipated to close following 12 months.
This report by The Canadian Press was very first releasedSept 3, 2024.
Companies on this story: (TSX: CWB; TSX: NA)
The Canadian Press
